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Gruppo Banca Leonardo acquires stake in BS Private Equity, invests €20m in new fund
21/05/2008. Source: AltAssets. 
 Private investment bank Gruppo Banca Leonardo has acquired 20 per cent of Italian private equity firm BS Private Equity for an undisclosed amount. The deal includes an option to buy the remaining 80 per cent of the firm in the future, according to a statement.
Following the deal, Gruppo Banca Leonardo's mid-market private equity team, led by Franco Cesa Bianchi and made up of two additional professionals, will join BS Private Equity's team, headed by its managing partners Antonio Perricone, Paolo Baretta and Francesco Sironi.
BS Private Equity is currently raising funds for Italian Private Equity Fund V, which has a target size of approximately €600m. Gruppo Banca Leonardo will commit €20m to the new fund, with a further €20m committed by the partners of BS Private Equity.
BS Private Equity's most recent fund, Italian Private Equity Fund IV, closed in 2003 on €550m.
Gruppo Banca Leonardo was acquired and capitalised in April 2006 by European investors led by Gerardo Braggiotti and including CNP, Eurazeo, IFIL, Fondiaria-SAI, Torreal and Allianz. The firm's strategic focus is on investment banking and corporate finance, private equity and wealth management.
BS Private Equity focuses on MBOs and MBIs. Last month, the firm, together with Centrobanca, agreed to sell 100 per cent of European plastic films supplier Radici Film to Dubai-headquartered Taghleef Industries in a deal reported to be worth around €200m.
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